Will your EV weather the monsoon? Standard insurance may not be enough; what your insurer isn’t telling you

The monsoon season poses unique challenges for electric vehicles (EVs), particularly concerning potential water damage to their sensitive electrical components. Unlike conventional cars, EVs have intricate systems that are highly vulnerable to water exposure, making it crucial for owners to think beyond standard insurance.

Enter specialised solutions like EV Shield, a tailor-made solution to address such high-voltage vulnerabilities. EV Shield offers financial protection against flood-related damage, going far beyond the basics. It extends coverage to critical components such as the battery pack, electric motor, charging panel, and even the vehicle charger, including the charging cable.

“Beyond component-specific protection, these specialised covers often include EV-related roadside assistance, which can be invaluable during monsoon-induced breakdowns. This assistance might involve arranging a portable mobile generator, providing a charged swappable battery, or offering towing and repair assistance tailored for EVs,” said Mayur Kacholiya, Head – Motor Product, Go Digit General Insurance.

In addition, standard add-on covers such as zero depreciation, return to invoice, and consumables cover are available to both EV and ICE vehicle owners, helping further cushion the financial blow of monsoon damage.

But beware: one wrong move could cost you your entire claim. Kacholiya warns, “Policyholders must be aware of crucial exclusions that can lead to claim rejection. A common and significant misstep is attempting to start a submerged vehicle. This acts as contributory negligence, as it can cause severe damage to the engine or electrical systems, thus voiding the claim. Moreover, consequential loss to specific vehicle parts due to water damage might not be covered if those particular components are not explicitly included in the policy's scope or under an additional add-on."

"Naturally, any pre-existing damage to the vehicle before the flood incident will also be excluded from coverage. Therefore, it is essential for policyholders to review their policy document to fully understand all terms, conditions, and exclusions to ensure comprehensive coverage and avoid unpleasant surprises during a claim,” he added.

Monsoons can be merciless, but your EV insurance doesn’t have to be. As electric mobility gains momentum so should your preparedness. Before the rains take charge, make sure your EV protection is charged up too.